Agency
Under Iowa law, an agent may act as a dual agent representing both the buyer and seller if:
AThe commission is reduced by 50%
BBoth parties provide written informed consent✓ Correct
CThe properties are commercial, not residential
DThe managing broker approves without client disclosure
Explanation
Iowa permits dual agency only when both the buyer and seller provide written informed consent after full disclosure of the potential conflicts of interest. Without consent, dual agency is not permissible.
Related Iowa Agency Questions
- In Iowa, a buyer's agent who learns the buyer's maximum budget should:
- In Iowa, a transaction broker:
- An Iowa real estate agent who has a personal financial interest in a property they are selling to a client must:
- In Iowa, when a listing broker's salesperson represents the buyer, this situation may be handled as:
- An Iowa listing agent who knows the property has a leaking roof but does not disclose it to a buyer because the seller asked them not to is committing:
- An Iowa buyer's agent who fails to present an offer that was not in writing to the seller:
- What is a designated agency in Iowa?
- A seller's agent accidentally learns that the buyer is willing to pay significantly more than the offered price. What should the agent do?
Practice More Iowa Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Iowa Quiz →